Dovre Group Oyj
CHANGES IN DOVRE GROUP’S ASSOCIATE COMPANIES SARARASA
DGAP-News: Dovre Group Oyj 2015-01-30 / 08:00 --------------------------------------------------------------------- Espoo, Finland, 2015-01-30 08:00 CET (GLOBE NEWSWIRE) -- Dovre Group Plc Press Release January 30, 2015 at 9:00 am CHANGES IN DOVRE GROUP'S ASSOCIATE COMPANIES SARARASA Since 2012, Dovre Group has been a minority shareholder in SaraRasa Bioindo Pte. Ltd. ('Bioindo'). Bioindo is a pellet producer using sustainable waste materials. Dovre Group has also been a minority shareholder in SaraRasa Biomass Pte. Ltd ('Biomass'), a project development company based in Singapore. The owners of Bioindo and Biomass have agreed to simplify the structure of both companies, to widen the ownership base of Bioindo, and to relocate Bioindo's existing pellet production line from Selat to Surabaya in Indonesia. Once the restructuring is complete: -- all current owners of Bioindo (Dovre Group, Finnfund, Biomass and Stahl Capital) will continue as shareholders of Bioindo -- Navdata Ltd, a Finnish company, will become a new shareholder in Bioindo -- Dovre Group will hold 28.9% of the shares in Bioindo -- Dovre Group will no longer hold shares in Biomass Surabaya, the new location of the pellet production line, offers better infrastructure, logistics and feedstock. After relocation, the production capacity will increase to 75 000 t/a, the production costs will decrease and the quality of the end product will improve. Bioindo plans to build a second pellet production line once the production line in Surabaya is in commercial operation. Dovre Group's investment in Bioindo is not part of Dovre Group's core business. For further information, please contact: Dovre Group Plc Patrick von Essen, CEO tel. +358 (0)20 436 2000 patrick.essen@dovregroup.com www.dovregroup.com Dovre Group is a global provider of project management services. Dovre Group has two business areas: Project Personnel and Consulting. In 2013, the Group's net sales were EUR 98.5 million. Dovre Group employs over 470 people worldwide. Dovre Group is listed on the NASDAQ OMX Helsinki (symbol: DOV1V). DISTRIBUTION: NASDAQ OMX Helsinki Ltd Major media News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-01-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Dovre Group Oyj Finland ISIN: FI0009008098 End of News DGAP News-Service --------------------------------------------------------------------- 317765 2015-01-30
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